|
Getting your Trinity Audio player ready...
|
Assessing Donald Trump’s ‘No Taxes On Tips’ Plan
Gimmick? Or a good idea?
Gimmick? Or a good idea?
|
Getting your Trinity Audio player ready...
|
8 comments
Does that mean when employers steal their employees tips they won’t get taxed? Asking for a friend.
LOL! Good question!
Now I understand Trump’s plan. He pretty much only hires foreigners at his golf courses and resorts, so it’ll give his businesses another huge tax-break.
Thank god there are brave websites like this one to protect business owners from paying taxes.
How’s that Republican tax break for welfare bloggers going since the pandemic loan?
Trump should have said he was giving Stormy a tip. Problem solved.
Like Trump came up with this stupid idea….probably some douche at Mar largo or whatever passed it off on him.
In SC, nearly all tipped jobs pay less than $3 an hour base pay. Sure, don’t tax the tips that make up 90% of your total pay. Good luck, with a tax refund. Need unemployment….oops. When it comes time to calculate your Social Security payments….. ah, who are we kidding republicans will have done away with SS by then.
Republicans need to figure out something fast! Kamala is going to destroy them in November. Kamala is working for healthcare for tipped workers and everyone else.
Good article, Will! Thank you for qualifying your article with the fact that Trump was not great about keeping his promises (despite Trumptardians constantly bleating that stupid and false “Promises made, promises kept”, bs). Trump has also been making noises about taking the taxes on Social Security off. For many of us, that would be wonderful, but I know as sure as the sun will rise tomorrow, it will never happen. The talk about taking taxes on tips and SS is nothing more than election year blather. Sadly, many pitiful souls, devoid of critical thinking skills and abilities, are likely counting on Trump to fulfill those promises.
Also, you are correct about Kamala probably being many times worse than Trump, on multiple issues. Fact is, neither has earned my vote for 24. Trump got my vote in 2016. Never again.
As long as you don’t vote (like it ever mattered in 2016) our country is safe.
I have a few thoughts on this one:
1. My gut has always told me that a large portion of tip income was never claimed as income anyway. With the increase in card payments, that amount has certainly gotten smaller, as it’s much harder to hide that under the table.
2. A lot of lower income taxpayers qualify for the Earned Income Credit, which gets them “refunds” that they never even paid in. This exemption would lower earned income, and actually result in a smaller “refund”.
3. Social Security benefits probably make up the lion’s share of retirement income for former low-wage workers. If tips are no longer subjected to payroll taxes, the employee’s future benefit will decrease.